In This Chapter
• A look at the agency relationship and the different types of agents
• Launching the agency relationship
• Understanding the agent’s authority
• The agent and principal’s duties
• Ending the agency relationship
• The liability of agents and principals to third parties
Whether you are aware of it, agency relationships exist all around you. From an employee who acts as an agent for his employer to your mother who acts as your agent when she picks up your dry-cleaning, agents have varying responsibilities and authority.
In this chapter we’ll examine the important role agents play, what distinguishes them from employees, and key steps to protect the principal. No matter what you do in life, you will utilize agents ...